Millennials Won’t Destroy Your Law Firm. Can They Save It?

From The American Lawyer: by Lizzy McLellan Oct 23, 2017 For law firms wringing their hands about how to manage the millennial generation—or asking why they should adapt to this crop of young lawyers in the first place—here’s the bad news: If you’re still clinging to traditional models for training associates and running the partnership, you’ve already fallen behind. The millennials are here, they’re climbing the ranks, and they’ve already begun to transform the industry. But there’s good news, too. A decade after the Great Recession highlighted the industry’s vulnerability, many firms recognize the need for new strategies. And for those that get this generation right, the changes … Continue reading

4 Trends Shaping Our Legal Future

From Above The Law:  By Olga V. Mack and Katia Bloom:    We need to retrain lawyers to be more open-minded not only to a non-traditional career path, but to build a community. Trend 1: Golden Age of the in-house legal department We are convinced that we are entering the golden era of the in-house legal department. There is a trend of large legal departments hiring junior lawyers, sometimes even straight out of law school. This would not have happened in the past. Law departments are also running a larger amount of internship programs, and are training law students to work in-house. … Continue reading

2016 Report on the State of the Legal Market

From Georgetown Law:   Law firm leaders need to make bold, proactive changes in how legal services are delivered if firms are to thrive in the rapidly changing legal marketplace. That is among the findings of the “2016 Report on the State of the Legal Market” just issued by the Center for the Study of the Legal Profession at Georgetown University Law Center and Thomson Reuters Peer Monitor. Two thousand fifteen saw a sixth consecutive year of largely flat demand, weakening pricing power and falling productivity. The report notes that since 2008, the law firm market “has changed in significant and … Continue reading

Employees Who Stay In Companies Longer Than Two Years Get Paid 50% Less

From Forbes.com:  The worst kept secret is that employees are making less on average every year. There are millions of reasons for this, but we’re going to focus on one that we can control.  Staying employed at the same company for over two years on average is going to make you earn less over your lifetime by about 50% or more. Keep in mind that 50% is a conservative number at the lowest end of the spectrum.  This is assuming that your career is only going to last 10 years.  The longer you work, the greater the difference will become … Continue reading

The 10 Best Times to Switch Jobs

From US News: Read the signs. Any of these 10 scenarios could mean it’s time to make a job change. You’ve been with your employer for more than 10 years. If during your extended tenure you’ve held four different positions and continue to enjoy your work, then maybe you can ignore this one.  But if you’re clocking in to what is now a “Groundhog’s Day existence, you definitely need to explore your options.  A change in work environments will keep your skills nimble. You’re really good at your job. This could be because you’ve stayed too long, or it could … Continue reading

Why you shouldn’t take a counter offer

From US News: Thinking about using a potential employer’s job offer to get your current company to counter and pay you more money? Stop right there. Using another job offer as a bargaining chip may be tempting, but too often, it ends badly. If you want a raise, then negotiate it on your own merits—or prepare to move on. Here’s why: 1. Employers often make counteroffers in a moment of panic. (“We can’t have Joe leave right now! We have that big conference next month.”) But after the initial relief passes, you may find your relationship with your employer—and your … Continue reading